In today's volatile underwriting world, lenders will require many documents from you to feel comfortable approving you for a home loan. Below is a list of standard documents that are required for just about everyone.
However, every situation is unique and you may be required to provide some additional documentation. Be mindful of the fact that everyone wants your loan to be approved, so take steps to ensure you're helping to speed up the application process.
Copy of fully signed sales contract including all riders.
Verification of the deposit you placed on the home (copy of front and back of earnest money check).
Names, addresses and telephone numbers of all realtors, builders, insurance agents and attorneys.
Copy of MLS listing sheet and legal description if available.
If the property is a condominium please provide condominium declaration, by-laws and most recent budget.
Copies of your pay-stubs for the most recent 30-day period (4 if paid weekly, 2 if paid bi-weekly).
Copies of ALL your W-2 forms for the past two years.
Names and addresses of ALL employers for the last two years.
Letter explaining any gaps in employment in the past 2 years if more than 60 days.
Work visa or green card (copy front & back).
Self-employed or receiving commission, bonuses, dividends or rental income:
If you will use alimony or child support to qualify:
If you receive social security income, disability or VA benefits:
Sale of your existing home - provide a copy of the signed sales contract on your current residence and statement if unsold (at closing, you must also provide a settlement / closing Statement).
Savings, checking or money market funds - provide copies of bank statements for the last 2 months (all pages).
Be sure to document any large deposits and or bank transfers that are not related to payroll income.
Stocks and bonds - provide copies of your statement from your broker or copies of certificates.
Gifts - If gifts constitute part of your cash to close, provide gift affidavit and proof of receipt of funds (talk to lender for specifics).
Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation.
Your debts will be grabbed from your credit report. Prepare a list of all names, addresses, account numbers, balances, and monthly payments for any debt not on your credit report (usually just brand new debt).
Include all names, addresses, account numbers, balances, and monthly payments for mortgage holders and/or landlords for the last two years.
If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation.
Check to cover application fee(s) and appraisal costs.
Didn't find the answer you wanted? Ask one of your own.